My notes based on 2010 quarter 3 report (number in '000):-
- For the financial period ended 30 September 2010, the Group generated total revenue from continuing operations of RM55.00 million and profit attributable to equity holders of the parent of RM3.32 million. This compares to revenue from continuing operations of RM87.71 million and profit attributable to the equity holders of the parent RM41.43 million for the preceding corresponding financial period ended 30 September 2009

- The decrease in revenue for the financial period ended 30 June 2010 was mainly due to the expiration of the Saturation Diving System contract and the revision of charter rates for the Derrick Lay Barge (“DLB”) from USD95,000 per day for 240 days per annum to a yearly fixed monthly rate of USD1,900,000 per month and USD20,000 for each working day for the 271st day and beyond in the calendar year

- The decrease in profit attributable to equity holders of the parent for the financial period ended 30 September 2010 was due to the decrease in revenue and in addition, the Group had during the financial quarter ended 30 September 2010, written off the development costs of RM8.44mil which was associated with the licensing fee for the Alpha Prime subsea module, allowance for doubtful debt amounting to RM2.90 million, provision for foreseeable loss amounting to RM3.76 million for the disposal of a an associate company and subsidiaries and the impairment of goodwill of RM1.34 million. The above exercise with respect to the development expenditure write off, allowance for doubtful debt, provision for foreseeable loss and impairment of goodwill is non recurrent in nature and is reflected under the operating expenses in the income statement

- The non recurrent transactions as mentioned above had substantially reduced the profit from continuing operations of the Group which otherwise would have achieved profit from continuing operations of RM19.76 million for the financial period ended 30 September 2010

- For the financial quarter ended 30 June 2010, the Group generated total revenue from continuing operations of RM17.70 million and loss attributable to equity holders of the parent of RM8.63 million. This compares to revenue from continuing operations of RM20.75 million and profit attributable to the equity holders of the parent RM8.27 million for the preceding corresponding financial quarter ended 30 September 2009

- The decrease in revenue and profit attributable to equity holders of the parent for the financial quarter ended 30 September 2010 was mainly due to reasons as mentioned above

- For the financial quarter ended 30 September 2010, the Group recorded a loss before tax from continuing operations of approximately RM8.53 million as compared to a profit before taxation of RM5.79 million for the preceding financial quarter ended 30 June 2010

- The loss before tax from continuing operations in the current quarter was mainly due to the write off of the development cost, allowance for doubtful debt, provision for foreseeable loss and the impairment of goodwill as mentioned above, which otherwise the Group would have achieved a profit before tax from continuing operations of RM7.91 million